On February 17, 2025, a historic event occurred in Abu Dhabi: Ukraine and the United Arab Emirates (UAE) have signed a Comprehensive Economic Partnership Agreement (hereinafter referred to as the Agreement).
This Agreement is the first in Ukraine’s history with the states of the Persian Gulf and opens up new horizons for economic cooperation between the two countries.
The signing of the Agreement is a significant milestone in strengthening economic ties between the two countries and opens up new opportunities for Ukrainian business, promotes investment and the development of the digital economy.
On February 17, 2025, the Ukrainian delegation met with representatives of over 20 leading United Arab Emirates companies.
Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, presented a comprehensive overview of Ukraine’s investment opportunities in various sectors of the economy and invited UAE companies to participate in privatization.
In the 11 months of 2024, the trade turnover between Ukraine and the UAE amounted to USD 415 million. Ukrainian exports to the UAE amounted to USD 266.8 million, and imports amounted to USD 148.2 million.
The main categories of Ukrainian exports to the UAE:
Our experts provide comprehensive support to companies planning to enter the UAE market: from tax consulting to ensuring compliance with local regulatory requirements.
Our experts recently hosted a webinar for Ukrainian companies to discuss the opportunities of entering the UAE and Saudi Arabia markets. During the webinar, we reviewed the key aspects of these target markets, including legal requirements for foreign companies and strategic steps for business development in these countries. The webinar provided a valuable platform for sharing experiences and obtaining practical advice from experts in the field.
Do not miss the opportunity to take advantage of all the benefits offered by the agreement between Ukraine and the UAE!
BDO in Ukraine is your trusted partner for business development in international markets!
The agreement provides for the following:
- Free trade: 99% of Ukrainian goods will have full access to the UAE market, which will lead to increase in exports and production of Ukrainian products.
- Investment liberalization: The UAE has lifted the 49% foreign ownership limit for Ukraine, which will allow entrepreneurs to register companies with up to 70% foreign capital, and gradually up to 100% in certain sectors (including commercial services, construction, education, healthcare and accounting). Concurrently, Ukrainian companies will be able to own 100% of the business in free economic zones.
- Simplified market access: Simplified market access for Ukrainian companies in the UAE and other regional countries will expand their business development opportunities.
- Digital economy cooperation: The duties on digital and electronic data transfer, including electronic content, have been canceled. Commitments have been made regarding digital payments, personal data protection and the creation of transparent rules for business.
Significance of the Agreement for Ukraine
- Increasing trade turnover: The agreement will contribute to a substantial increase in trade between Ukraine and the UAE, which will have a positive impact on the economic growth of both countries.
- Expanding export opportunities: Ukrainian companies will have access to a new, promising market, allowing them to increase exports and expand their business.
- Attracting investment: Lifting restrictions on foreign capital will help attract more investment into Ukraine’s economy. This will contribute to the development of the country and the creation of new jobs.
- Digital economy development: The agreement will promote the development of Ukraine’s digital economy, creating new opportunities for businesses and citizens.
Prospects for cooperation
The signing of the Agreement is a significant milestone in strengthening economic ties between the two countries and opens up new opportunities for Ukrainian business, promotes investment and the development of the digital economy.
Meeting with UAE business
On February 17, 2025, the Ukrainian delegation met with representatives of over 20 leading United Arab Emirates companies. Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, presented a comprehensive overview of Ukraine’s investment opportunities in various sectors of the economy and invited UAE companies to participate in privatization.
In the 11 months of 2024, the trade turnover between Ukraine and the UAE amounted to USD 415 million. Ukrainian exports to the UAE amounted to USD 266.8 million, and imports amounted to USD 148.2 million.
The main categories of Ukrainian exports to the UAE:
- Oil and fats
- Meat and edible offal
- Cereal crops
- Metal products
- Mineral fuel
- Information storage devices
- Chemical compounds
- Polymeric materials
What can BDO in Ukraine do to help?
Our experts provide comprehensive support to companies planning to enter the UAE market: from tax consulting to ensuring compliance with local regulatory requirements. Our experts recently hosted a webinar for Ukrainian companies to discuss the opportunities of entering the UAE and Saudi Arabia markets. During the webinar, we reviewed the key aspects of these target markets, including legal requirements for foreign companies and strategic steps for business development in these countries. The webinar provided a valuable platform for sharing experiences and obtaining practical advice from experts in the field.
Do not miss the opportunity to take advantage of all the benefits offered by the agreement between Ukraine and the UAE!
BDO in Ukraine is your trusted partner for business development in international markets!
